OMG !!! Peter Schiff was right, again.............

[Wind_FURY]

This is funny. He shouldn't have made this a poll. Now, he got whammed twice with a single tweet. LOL!

I see this as Peter just creating publicity to boost his son's social media reach. And so far, it's working really really really well. If I remember correctly, Spencer's following was just around 10k a week ago.

https://twitter.com/SchiffSpencer

Well, if this is true, this is canny of him. But for what? Spencer is, after all, just a freshman. There's nothing to market, or so it seems to me at least. And, at the expense of Peter himself's reputation? I dunno if he's still got any left but I really cannot see a point of all this, which is somehow a subtle way of declaring Bitcoin as the winner.

For a new "Good cop, bad cop" routine. He is HODLING gold, his son is HODLing Bitcoin, then they both can start trolling everyone in Twitter, increasing their social media followers/influence.

[Casdinyard]

PETER SCHIFF noted early this year that BitCoin is trading like the STOCK MARKET     
Stock market goes into a bigger bubble, and so does BitCoin. 
Stock Market Crashes in March, so does BitCoin
Stock Market goes into an even bigger bubble April - September, so does BitCoin
Stock Market Corrects now ( early September ) so does Bitcoin correct down to 10,000 again.
THE ONLY ONE LEFT:   Stock market crashes hard:   Bitcoin will also crash hard.

Bitcoin wouldn't crash that hard like the stock market. Lol, the stock market is very much different compared to Bitcoin and crypto market and I don't see why you are endorsing Schiff even it is too obvious that even his twitter followers and his son isn't following his predictions. Dude, stock market goes down due to some companies having trouble like this pandemic in which somehow many companies in the stock market had been gradually losing yet Bitcoin and crypto market only loses due to some factors such as ETH gas increase and BTC whales hyping the people to invest.

Schiff can be a good investment advisor, but not on to crypto world. Trading stocks are FAR different on trading crypto. trust me.

[AjithBtc]

Peter Schiff himself has admitted he is wrong on the predictions of bitcoin. He mentioned "He is right on gold, but wrong with bitcoin". The previous month's market correlation between gold and bitcoin has made him make such predictions. Long back itself his statement on bitcoin is wrong, as he predicted the fall of bitcoin to $1000 without any deadline.

Source : Peter Schiff: 'I was wrong about bitcoin'

[LogitechMouse]

~

I don't see the main point of this post but just hoping that the investors didn't lose their money with this crypto market crash.

Stock Market and Bitcoin prices are somewhat correlated and it is the truth. Although he said it already, I don't give a damn with what he is saying. I know that Bitcoin and Stock Market are correlated with each other and with the Stock Market going down, so is Bitcoin and the crypto market that will do the same.

I also don't care with this drop because I see this as a good opportunity to buy and you must do it too . It is better to buy Bitcoin at this price rather than buying it at a higher price .

[Debonaire217]

What exactly is the point of this post? Buy Gold instead of Stocks and Bitcoin then stay there forever? That's not going to happen. Investors moves in and out of different markets depending on the trend. We've seen trends like bitcoin going up when stocks are crashing.

They have a very different market, meaning, there are people who believes in gold, stocks, and crypto, and the reason might be because they are already in to it or invested a significantly huge amount of their funds. Basically, we want to protect our investments from fuds so we need to act to it. We, in crypto community knows bitcoin better than gold or stocks because we are already used to the volatile market. Whereas, people who post especially personalities saying that they don't want bitcoin is becoming warned about their investment because of crypto.

[HardFacts]

PETER SCHIFF

" Its better to buy REAL GOLD than FOOLS GOLD "

I would listen, Peter is one of the smartest guys on the planet...

[Becky666]

OP, you only tell when Peter Schiff is right and never want to tell when he's wrong, does that make any sense?, we'll know all his life is into gold and nothing he can do to convince his fellow men against Bitcoin. I know him to be a good man back then, but has failed me woefully, let him realize life has changed from analog to digital and he should. During the bubbles P. Schiff won't rant but will always be present when dips arrive.

[Emitdama]

Someone made a point that no one can tell you where the market is heading to if they don’t own 100% of the market, if the market was owned 100% by a particular person, they can tell where the market is heading next, but since they don’t, the market still remains unpredictable. Just look at the image uploaded by o_e_l_e_o, up to 80% of the voters on Twitter didn’t agree with what Peter Schiff has to say.

The cryptocurrency market and stock market do head the same directions at times, but it doesn’t happen all the time, there are lots of times they will be heading two different directions. I can remember there was a time that cryptocurrency market was crashing, but gold kept increasing in price. As for the decrease during the pandemic, it didn’t come as a surprise to me, a lot of markets were affected.

[goldade]

I do not think anyone serious about bitcoin and is concerned with making money with bitcoin should pay attention to Peter Schiff. Peter has been pessimistic concerning bitcoin right from time, it is not surprising that he'd make such comments.
There are two points to note here. Even if he was right this time, it doesn't mean he'll always be right. No one can always accurately predict the price of bitcoin except of course if you're the only one controlling the market.
Secondly, even if bitcoin did take a dump here, hodling for while for it to pump will result in taking profits

[Twentyonepaylots]

Welcome back. I don't really pay attention to the price but since you've showed up that can only mean that there's been a correction. Funny how you are mysteriously absent during all the bull runs.

This made me laugh haha, I've been seeing this guy spitting bash with bitcoin for quite some time now and I just realized that he was absent during the bitcoin is running to $12K. You know HardFacts, try harder the next time you wanna post.

You would not be fooled if you know what you are dealing and getting with bitcoin, this ain't fools gold, bitcoin is clearly not a gold the price is definition is not similar, the only thing they are alike is that both are high valued these days. Just think, if bitcoin isn't at the price that it is now no one will compare it to gold.

[dimonstration]

OP, you only tell when Peter Schiff is right and never want to tell when he's wrong, does that make any sense?, we'll know all his life is into gold and nothing he can do to convince his fellow men against Bitcoin. I know him to be a good man back then, but has failed me woefully, let him realize life has changed from analog to digital and he should. During the bubbles P. Schiff won't rant but will always be present when dips arrive.

Funny that He will always say ls something when it dips but never when the prices increases, it is the nature of bitcoin that it will rise and fall in price like stock market but in a bigger volatility. There is just always a need to accept every changes that's the only time He will realize the idea and beauty of it when he already accepts it, we just need to know the 2 part of story as well be open minded when we see post like these from known people as they may only not aware in changes.

[pixie85]

Welcome back. I don't really pay attention to the price but since you've showed up that can only mean that there's been a correction. Funny how you are mysteriously absent during all the bull runs.

Trolls come out of the woodwork in troll season (bear market). He only comes back with another dose of negativity and disappears to charge the batteries when the corrections are over

Of course I have to agree with the statement that Bitcoin reacts to the stocks. It does because many Bitcoin traders also trade on the stock market and or trade bitcoin futures. When they are scared of another corona bear market they sell everything.

[DarkDays]

Don't go on anyone's words the market is too unpredictable to pe predicted periodically by someone.

Oh, Peter Schiff isn't trying to predict the market. And even if he was, his predictions regarding both bitcoin and gold have been consistently and monumentally wrong. Indeed, if you were to do the exact opposite of what he says, and buy bitcoin whenever he predicted it was about to "crash", you would be sitting on a very nice profit right now.

What Peter Schiff is doing is mindlessly and endlessly shilling gold. He is a gold bug. The majority of his money is in gold. His net worth depends on the price of gold being maintained. He will forever shill gold to his followers, and will forever rubbish anything he sees as a threat to gold. The fact that he (and HardFacts over here) spend so much of their time telling everyone just how terrible bitcoin is means that they see it as a real and genuine threat to the price of gold.

The reason the stock markets crushed is not so spot on from Peter's prediction but it simply has to do with countries entering into recession.

It doesn't take a huge amount of brain power to predict that if the entire economy on a global scale is suffering then no market stands a chance; it being the stock market or the crypto market.

And it is true, people only spread information that will favour them there's no genuine predictions here other  than trying to 'save their own skin'. If people like the main person who made this thread really believes everything then at least I sure hope that there aren't many like that.

[ChiBitCTy]

It's not like these "predictions" were really all that hard to see coming.  It's also not like he's been the only one to say / point these things out.  Bitcoin and all other cryptocurrencies ( for the vast majority ) have all been following the stock market.  Well, technically, bitcoin has been following the flows of the stock market and for the most part other cryptocurrencies follow bitcoins price movements. 

Peter is an old dinosaur just like Warren Buffet. They are both financial gurus, sure ..well more so Buffet..but that doesn't mean they know everything about finance and are never wrong.  The truth is guys like this, especially Warren, have no idea how bitcoin works and don't want to learn because it goes against their traditional values when it comes to how money should work.  Take their words with a large grain of salt.

[akram143]

Look at the poll results, most said the kid was right and ofcourse he is the one predicted better than his 30 year experience in the traditional investment sector.

Bitcoin is highly volatile and no one is ready to accept will not fit to make investment here.

[Shasha80]

Not all of Peter Schiff's predictions are always correct, the ones mentioned in the opening post are only predictions that really happened.
There are several Peter Schiff predictions that went wrong regarding Bitcoin, so don't take too much into what Peter Schiff said. He may
have been successful as an investor for 30 years, but that doesn't mean all of his opinions are correct.

[Sadlife]

Bitcoin is no doubt correlated with the stock market for now, but as the current economic crisis gets worse, with the FED printing money in all time highs. It would cause fear towards institutional, retailers and even average investors. In time, as fiat loses value due to stimulus quantitative easing, Bitcoin will be realized as a hedge against stock market, and a massive wealth transfer will take place leaving behind the traditional market. That time Bitcoin has become an independent market and stable asset.

[KonstantinosM]

PETER SCHIFF

" Its better to buy REAL GOLD than FOOLS GOLD "

I would listen, Peter is one of the smartest guys on the planet...

I can't wait to see you pop your head out of wherever you come from in 10 years.

Bitcoin falls to 100k, from 500k.... Peter Schiff is right.

HAHHAHAHHAHAHA


Your facts are getting really hard for Peter's Peter. But It's clear he's not right on things. He is just a shill, also his politics suck. He claims that the US is the land of the freeloader. No, it's more like the land of Vampiric/authoritarian capitalism.

[maxreish]

Just because he said something like that doesn't mean you'll gonna believe all his words. .
 

Schiff admitted that he correctly predicted the price development of gold for August, but was wrong about Bitcoin.

 He was anti bitcoin before but seems the visions has changed and is a pro bitcoin now. Even an expert in stock market trading  admitsted that he predicted bitcoin wrongly.  This just means we can't just rely on his speculations. There are just times that Stock markets flows are coincidentally the same as bitcoin movements.

[mk4]

PETER SCHIFF

" Its better to buy REAL GOLD than FOOLS GOLD "

I would listen, Peter is one of the smartest guys on the planet...

I'm not going to say that Peter Schiff isn't smart(because I think he is), but if you like taking investment advice for a new technological asset from a person that barely understands technology, then you do you.